Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Eagle Strategies LLC

Eagle Strategies LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,003 shares of the information services provider’s stock after selling 167 shares during the quarter. Eagle Strategies LLC’s holdings in Alphabet were worth $1,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Cullinan Associates Inc. increased its holdings in shares of Alphabet by 8.4% in the first quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock valued at $18,975,000 after purchasing an additional 9,612 shares during the last quarter. Westhampton Capital LLC increased its stake in Alphabet by 23.9% during the first quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock worth $615,000 after acquiring an additional 780 shares during the last quarter. Deepwater Asset Management LLC increased its stake in Alphabet by 18.5% during the first quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock worth $13,564,000 after acquiring an additional 13,927 shares during the last quarter. Exchange Capital Management Inc. increased its stake in Alphabet by 2.9% during the first quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock worth $927,000 after acquiring an additional 170 shares during the last quarter. Finally, Financial Strategies Group Inc. increased its stake in Alphabet by 22.8% during the first quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock worth $6,939,000 after acquiring an additional 8,156 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 2.9 %

NASDAQ:GOOG opened at $176.14 on Thursday. The firm has a market cap of $2.18 trillion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The stock has a fifty day moving average price of $163.56 and a 200 day moving average price of $170.30. Alphabet Inc. has a 12-month low of $123.93 and a 12-month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOG shares. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.56.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.